Half of Small Firms Feel Government is “Out-of-Touch” with Their Needs
Majority of small and micro businesses find new export, childcare and employment law policies have had no impact on their business, according to Simply Business survey
A new Simply Business report has revealed over half (56%) of small and micro-businesses feel that the government misunderstands their needs, with the majority stating that changes to exporting (81%), childcare (77%) and employment (69%) laws have had no influence on their business.
The survey, titled Simply Britain Pulse Check, found that some policies have actually hindered small firms’ growth; with 33% of respondents singling out new red tape policy, 25% energy prices and overheads, and 21% access to finance.
The report also revealed the main changes businesses want to see to increase their chances of financial growth, as well as the current top four barriers they face.
In order to improve their profitability, businesses most want to see change in tax relief, energy process, employment law and environmental requirements and the top obstacles named by small firms were petrol costs, tax and business rates, red tape, and utility costs respectively.
The survey, which included 2,000 interviews with small and sole business owners, was released at the Simply Britain: Backing Business event in London City Hall yesterday.
CEO of Simply Business, Jason Stockwood, commented on the report:
“Sole and micro businesses account for a staggering 95% of the 4.9m so-called ‘small businesses’ in the UK “The government is designing policies according to what it believes small businesses need, but because of the specific set of challenges and risks faced by sole traders and microbusinesses, government support is passing them by.”
To read more about what Lord Young of Graffham DL, enterprise adviser to the Prime Minister, and other representatives of the small business community had to say about helping small and micro businesses, check out Startups.co.uk’s coverage of the event here.